Transcribed Image Text: Natal Company provided the following information: Pro Problem 10-2 (IAA) 1,400,000 200,000 650,000 60,000 150,000 2,000,000 Sum beg of 9 yea Materiale Advance for materials ordered Goods

Transcribed Image Text: Natal Company provided the following information:
Pro
Problem 10-2 (IAA)
1,400,000
200,000
650,000
60,000
150,000
2,000,000
Sum
beg
of 9
yea
Materiale
Advance for materials ordered
Goods in process
Unexpired insurance on inventories
Advertising catalogs and ehipping cartona
Finished gooda in factory
Finished goods in company-owned retail store,
including 50% profit on cost
Pinished goods in hands of consignees including
40% profit on sales
Finished goods in tranait to customers, shipped FOB
deatination at cost
Finished gooda out on approval, at cost
Unsalable fininhed gooda, at cost
Office supplies
Materials in transit shipped FOB nhipping point,
excluding freight of P30,000
Goods held on consignment, at sales price, cost P150,000
1.
2.
750,000
3.
4.
400,000
250,000
100,000
50,000
40,000
330,000
200,000
Required:
Compute the correct amount of inventory. Transcribed Image Text: Problem 11-5 (IAA)
Pro
Tragie Company provided the following data for purchases
and sales:
Sla
rela
Purchases
Unit cost
Sales
Revenue
Ja.
Ag
Units
Cost
Units
250,000
540,000
1,125,000
4,000
7,000
12,000
280,000
630,000
1,200,000
50
2018
2019
2020
5,000
9,000
15,000
75
Required:
Compute the gross income for 2020 assuming a FIFO cost
formula.

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